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Consolidated Balance Sheets - USD ($)
Aug. 31, 2023
Aug. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 5,406,173 $ 5,333,890
Available for sale securities 0 5,590
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $533,000 and $439,000 as of August 31, 2023 and 2022, respectively 15,645,130 14,136,930
Trade, joint ventures 187,912 697,861
Fees for services provided to joint ventures 1,296,594 1,765,117
Dividend receivable from joint venture 1,986,027 0
Income taxes 34,202 0
Inventories 13,096,489 16,341,729
Prepaid expenses 2,019,029 1,953,764
Total current assets 39,671,556 40,234,881
PROPERTY AND EQUIPMENT, NET 14,065,354 12,170,493
OTHER ASSETS:    
Investments in joint ventures 23,705,714 21,814,754
Deferred income tax, net 530,944 0
Intangible asset, net 6,159,485 6,633,878
Goodwill 4,782,376 4,782,376
Operating lease right of use assets 428,874 557,571
Total other assets 35,607,393 33,788,579
Total assets 89,344,303 86,193,953
CURRENT LIABILITIES:    
Line of credit 3,600,000 5,900,000
Term loan 2,757,176 0
Accounts payable 6,056,329 7,796,494
Income taxes payable 13,053 30,742
Accrued liabilities:    
Payroll and related benefits 2,305,400 2,297,543
Other 1,648,615 667,292
Current portion of operating leases 340,799 373,330
Total current liabilities 16,721,372 17,065,401
LONG-TERM LIABILITIES:    
Deferred income tax, net 1,836,059 1,700,015
Operating leases, less current portion 88,075 184,241
Total long-term liabilities 1,924,134 1,884,256
Commitments and Contingencies  
EQUITY:    
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding 0 0
Common stock, $0.02 par value per share; authorized 15,000,000 shares; issued and outstanding 9,424,101 and 9,232,483, respectively 188,482 184,650
Additional paid-in capital 21,986,767 19,939,131
Retained earnings 51,004,427 50,716,613
Accumulated other comprehensive loss (6,823,403) (7,245,132)
Stockholders’ equity 66,356,273 63,595,262
Non-controlling interests 4,342,524 3,649,034
Total equity 70,698,797 67,244,296
Total liabilities and equity 89,344,303 86,193,953
Intangible Assets Excluding Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible asset, net 5,500,733 5,923,867
Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible asset, net $ 658,752 $ 710,011